Merchants Bancorp dips after NINGI Research takes short position

Merchants Bancorp

17/10/2024 14:45

** Shares of Merchants Bancorp  MBIN.O  down 3.5% after
NINGI Research discloses short position 
    ** Accuses bank of "reckless expansion" and highlights risks
from its commercial real estate loan portfolio
    ** Says MBIN granted loans to bad actors, like landlords
prosecuted by State Attorney Generals
    ** Warns the bank's bad loans may shoot higher
    ** MBIN did not immediately respond to a Reuters request for
comment
    ** Reuters could not independently verify the allegations
made in the report 
    ** Stock up 5% YTD as of last close

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))